
\begin{table}
\caption{Explanatory factors for variation in future focus}
\begin{center}
\begin{tabular}{l c c c c c}
\toprule
 & Model 1 & Model 2 & Model 3 & Model 4 & Model 5 \\
\midrule
(Intercept)    & $0.488^{***}$ & $0.821^{***}$ & $0.637^{**}$   & $0.656^{**}$   & $0.644^{**}$   \\
               & $(0.020)$     & $(0.260)$     & $(0.268)$      & $(0.262)$      & $(0.267)$      \\
Climate Target & $0.025^{***}$ & $0.026^{***}$ & $0.026^{***}$  & $0.027^{***}$  & $0.027^{***}$  \\
               & $(0.007)$     & $(0.007)$     & $(0.008)$      & $(0.007)$      & $(0.008)$      \\
Revenue        &               & $-0.014$      & $-0.006$       & $-0.006$       & $-0.006$       \\
               &               & $(0.011)$     & $(0.011)$      & $(0.011)$      & $(0.012)$      \\
East Asia      &               &               & $0.023$        & $0.034$        & $0.028$        \\
               &               &               & $(0.034)$      & $(0.033)$      & $(0.039)$      \\
Other Europe   &               &               & $-0.131^{***}$ & $-0.134^{***}$ & $-0.136^{***}$ \\
               &               &               & $(0.046)$      & $(0.045)$      & $(0.046)$      \\
South America  &               &               & $-0.010$       & $-0.013$       & $-0.016$       \\
               &               &               & $(0.073)$      & $(0.072)$      & $(0.073)$      \\
European Union &               &               & $-0.033$       & $-0.037$       & $-0.041$       \\
               &               &               & $(0.042)$      & $(0.041)$      & $(0.044)$      \\
Oceania        &               &               & $0.040$        & $0.034$        & $0.035$        \\
               &               &               & $(0.060)$      & $(0.059)$      & $(0.059)$      \\
South Asia     &               &               & $-0.096$       & $-0.072$       & $-0.074$       \\
               &               &               & $(0.058)$      & $(0.058)$      & $(0.059)$      \\
Middle East    &               &               & $0.011$        & $0.008$        & $0.006$        \\
               &               &               & $(0.072)$      & $(0.071)$      & $(0.071)$      \\
Coal           &               &               &                & $-0.137^{**}$  & $-0.139^{**}$  \\
               &               &               &                & $(0.062)$      & $(0.063)$      \\
Disclaimer     &               &               &                &                & $-0.009$       \\
               &               &               &                &                & $(0.031)$      \\
\midrule
R$^2$          & $0.114$       & $0.130$       & $0.252$        & $0.291$        & $0.292$        \\
Adj. R$^2$     & $0.105$       & $0.111$       & $0.174$        & $0.209$        & $0.200$        \\
Num. obs.      & $97$          & $97$          & $97$           & $97$           & $97$           \\
\bottomrule
\multicolumn{6}{l}{\scriptsize{$^{***}p<0.01$; $^{**}p<0.05$; $^{*}p<0.1$}}
\end{tabular}
\label{tab:regressions_future_focus}
\end{center}
\end{table}
